The Act has faced criticism from various quarters including some states.
"We can review the Land Acquisition Act... If there is co-operation from your side," Rural Development Minister Nitin Gadkari told the Lok Sabha, adding that certain provisions could be re-considered.
However, he emphasised that the whole effort should not result in delaying road projects.
He was replying to the discussion on Demands for Grants for Ministry of Road Transport and Highways. Gadkari also holds the portfolio of Road Transport, Highways and Shipping.
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The Act enacted during the UPA government is likely to go undergo drastic changes if Prime Minister Narendra Modi gives nod for the Ministry's proposals which also include dilution of a key clause of Social Impact Assessment study criticised by states as time consuming for industrialisation process.
The Ministry's suggestions for drastic changes in the Act came after most of the states recently came out openly against the new Act, complaining that it had hurt the process of acquiring land for infrastructure projects.
At a recent meeting of State Revenue Ministers chaired by Gadkari, the states including Congress-ruled Haryana objected to provisions for mandatory consent and Social Impact Assessment study.